Harvest One Signs Supply Agreement with GenCanna for Extracted Products
VANCOUVER, July 17, 2019 /CNW/ - Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQX: HRVOF) today announced that the Company, through its wholly-owned subsidiary, Satipharm Ltd. ("Satipharm"), has entered into a Supply Agreement (the "Agreement") with GenCanna Global USA ("GenCanna") dated June 4, 2019. Under the terms of the Agreement, GenCanna will supply Harvest One with GMP Certified CBD oil and finished products for distribution in regulated markets in the United States, Europe, and around the globe, currently under the Dream Water, Satipharm, and LivRelief™ brands for an initial term of two years. In addition, GenCanna will support the Company in the research, development, and formulation of both existing and new CBD-infused products.
With an industry-leading 38,000+ retail distribution points around the globe (including, Walmart US, CVS, Kroger, Shoppers Drug Mart, Loblaw, Holland & Barrett and Boots), Harvest One is quickly becoming a leading global house of brands in the health, wellness, and self-care sectors, with cannabis, cannabis-infused, and all-natural product offerings. From Satipharm's patented GelPell® CBD capsules, to Dream Water's all natural, single shot sleep products, and the recent addition of LivRelief™, Canada's leading all natural topical pain relief cream, the Agreement with GenCanna ensures the consistent supply of premium quality hemp-derived CBD for infusion of our existing products and further product innovation.
"Working with world-class partners like GenCanna to supply premium quality, traceable, consistent ingredients, all from GMP-certified facilities, is critical to our core strategy at Harvest One to only offer consumers best-in-class premium products, with consistent and predictable effects, in delivery formats they have come to understand and demand" said Grant Froese, Chief Executive Officer of Harvest One. Mr. Froese added, "this Agreement signals the beginning of a global relationship with GenCanna under which we will continue to innovate, infuse our existing portfolio of products, and bring new products to market under our well-recognized and trusted, Satipharm, Dream Water, and LivRelief™ brands".
"Our evolving relationship with Harvest One reflects both companies' devotion to consumer product quality" said Steve Bevan, Executive Chair of GenCanna. "Joint research and development have combined to provide excellent CBD product additions to Harvest One's suite of leading-edge brands. We expect that consumers will quickly welcome these products on retail shelves globally" added Steve Bevan.
Under the terms of the Agreement, GenCanna will provide a production platform that uses innovative, proprietary harvesting and crop processing technologies that produce unmatched purity and quality. This will allow Harvest One and their brands around the world to access a consistent and fully compliant stable supply of hemp derived CBD extract and products that consumers and patients can count on.
About Harvest One Cannabis Inc.
Harvest One is a global consumer packaged goods company that develops and distributes premium health, wellness, and lifestyle products to patients and consumers in regulated markets around the world. The Company's portfolio of premium products is designed to enhance quality of life. Shareholders have significant exposure to the entire cannabis value chain through four wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); Dream Water Global and Delivra (consumer products with an emphasis on sleep, pain, and anxiety), and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.com.
About GenCanna
GenCanna is a vertically-integrated agriculture-technology company specializing in the production of high quality hemp-derived CBD. Founded in 2014, as an inaugural member of the Kentucky Department of Agriculture's Industrial Hemp Pilot Program, the company is a longstanding industry pioneer. GenCanna works closely with state universities, consumer protection agencies and other regulatory bodies driving key industry language and legislation. Consistent extraction methods and innovative processing technologies ensure GenCanna production processes exceed all regulatory standards for FDA registered and inspected food production facilities (learn more at https://gencanna.com/compliance/). The GenCanna Production Platform™ assures standardized, repeatable quality from farm to finished product.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.
SOURCE Harvest One Cannabis Inc.
Colin Clancy, Vice President of Investor Relations, [email protected], 1-877-915-7934
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